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jaykay
Starting Member
12 Posts |
 Posted - 18 March 2009 : 16:55:05
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Hi all,
I finally went to the courts today and filed for bankruptcy and they approved it...phew.
They said a Official Receiver will phone me in 1-2 days...does anyone know what kind of questions they will ask?
My current posistion is:
Owed £28,000 on cards and loans
Live with my parents
Don't own any home or car or any assets.
On JSA (Got made redundant after 16 years of service)
Im more worried about the Official Receiver than i was with the day at the court.
Look forward to hearing from you.
p.s Great website, real good work.
Regards
Jay |
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John
New Member
United Kingdom
73 Posts |
Posted - 18 March 2009 : 17:20:54
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Hi
for someone in your position I'm sure the OR's telephone interview will be a comparitive breeze.
The first call may be to arrange a date and time for a 2nd call which will be your interview.
They will just ask you to confirm some of the details that you have already listed on your SoA but in your own words.
Your's seems quite a straightforward case so the call will probably be over in less than half an hour.
Try not to worry, all the best.
John White
England Jackman & Spacey |
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jaykay
Starting Member
12 Posts |
Posted - 18 March 2009 : 17:28:56
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Thnaks John for the quick and reasurring reply.
Forgot to say, 1 week before i filed for bankruptcy i opened a Alliance and Leicester account with no overdraft or anything to get money from them.
I did not mention that on the form as it has not been used yet, i opened it so my JSA can be paid into it after the bankruptcy.
Will that be frozen? |
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John
New Member
United Kingdom
73 Posts |
Posted - 18 March 2009 : 19:30:25
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Hi
it could well be.
When bankruptcy is declared it is advertised in both The London & Stubbs Gazette.
The banks monitor these daily.
They check each bankrupt against there own records and if they find an account in the bankrupt's name almost invariably it is frozen. So the fact that this account was not listed on your SoA will make no difference.
Monitor the account and if it is frozen contact the bank and ask if it will be unfrozen and available for future use once the OR informs them that he has not interest in the account.
I could easily be mistaken as these things change with the tide but I do not know of a product which A&L provide which is likley to allow the account to continue I'm afraid.
John White
England Jackman & Spacey |
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leahk
Junior Member
117 Posts |
Posted - 18 March 2009 : 20:00:55
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A+L closed my current account which had never been overdrawn in the 15 years I had it as soon as they found out!.
Its the Co-op from now on for me - |
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s4pps
Junior Member
252 Posts |
Posted - 18 March 2009 : 20:10:00
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quote:
Originally posted by jaykay
Im more worried about the Official Receiver than i was with the day at the court.
Hi Jay, I was exactly the same, and although it wasn't the easiest thing in the world, you do get through it :)
Suzanne x
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YNWA
Starting Member
11 Posts |
Posted - 19 March 2009 : 16:46:26
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Hi Jay,
I was in a similar situation as you in 2005 when I made myself bankrupt. I was 20 and living with my parents, just finished a job and was about to be moving out and starting to be self employed.
So I had no assets or income to pay off the debts so £72,000 was wiped off and that was that. I opened an account with Alliance and Leicester to use afterwards but it was frozen, I just had a little money in it but I got it back.
So I would advise not to use the account at all.
The OR will probably call to arrange another time and date for a call. Mine took around 20-30 mins and was very friendly and she said good luck with the rest of my life and new business too. All the worry up to it looking back was a bit silly, I was in the court for 3 mins and everything was done within a day or so. I could finally ignore all the threatening letters and send them a copy of my bankruptcy.
Looking back it was a good choice to do it rather than when i had a house, the only thing I lost was my car but I had a new car from mobility anyway so it didnt matter.
The thing I would say is keep an eye on your credit report when you are discharged. I found out yesterday that 9 companies still have me as outstaniding balance of over £21,090 between them with default notices, ive not got to go to the bother of resolving it because I am not waiting a further 4 years for them to go off my credit report that is for sure.
Good Luck |
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xmas baby
Average Member
537 Posts |
Posted - 20 March 2009 : 13:47:54
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I didn't list my co-op cashminder account on the SOA as this was not one of my creditors and I opened it one month prior to BK for the specific reason of being able to obtain funds once I was made BK. I did make a point of going to the bank and telling them I was about to become BK and asking the manager to make sure my account was not frozen. I have had no problems in accessing funds and I did mention it also to the OR when they phoned me just to make sure.
xmas baby |
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bsmok1
Starting Member
United Kingdom
2 Posts |
Posted - 25 March 2009 : 18:02:07
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hi,
I am in a major situation and would love to hear your thoughts please?
I have some credit cards with money on and I owe some nasty guy some money £20,000 now I could get a loan to pay but I have a small problem I have a personal Guarantee for a building lease which he is insisting I owe him £75,000 which would make me bankrupt.
The question is what is the OR like? did he look into your infomation in that much depth? could I get this loan to pay this guy off before he burns my house down? |
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John
New Member
United Kingdom
73 Posts |
Posted - 25 March 2009 : 19:27:02
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Hi
it is not advisable to take out a further £20K of credit to pay this guy if you plan to declare bankruptcy soon after. When you declare bankruptcy the OR will want 6 to 12 months from all card accts therefore the withdrawals will be noted and you will be asked to account for the funds.
If you can't there's a problem.
Are you saying it's the same guy wanting both the £20K and the £75K? I know nothing of this guy of course or your situation and I can appreciate very well that you would not wish to elaborate on here but logic tells me if it is the same guy then the £20K alone won't satisfy him and if that's the case it begs the question why pay at all.
If the £20K is owed through a formal arrangement I would call the police. Debt is a civil matter, what he's doing is criminal.
May I ask which part of the country you are in?
I ask only because I have some friends (law abiding)in various parts of the UK that I could call for some advice.
John White
England Jackman & Spacey |
Edited by - John on 25 March 2009 19:30:11 |
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bsmok1
Starting Member
United Kingdom
2 Posts |
Posted - 25 March 2009 : 19:34:23
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| No, not the same guy and no chance of contacting the police if you know what I mean! I am not insolvent until the landlord files for bankruptcy or puts a charge on my house though am I? i can afford to pay the loan (if I take it) and my other items except the £75,000 which I don't know for definate he will? your thoughts please. |
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RHB
Senior Member
1159 Posts |
Posted - 26 March 2009 : 07:14:24
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| You are insolvent though if you can't pay all your debts as they fall due. |
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jaykay
Starting Member
12 Posts |
Posted - 26 March 2009 : 12:54:15
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Thanks all for the feedback
Thought i best update you all, I had my OR interview today via the phone, very friendly person.
Lasted about 15 minutes (phew) he mainly asked what i spent the money on of which i said daily expendentures over the years, also asked a few other things but overall went quite well.
I asked what happens now and he replied "You won't really hear anything from us until about 3-4 months time, He also said "I just need to write up a report for each credit card company and send it to them".
Does anyone know what might happen when the 3-4 months are up?
Thanks all
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Official Receiver Questions
